24 hour helpline:
Considering setting up as a sole practitioner?
We can give you preliminary advice about the different business structures, which may be available to you.
Once you have decided on your preferred route, LBS Legal will provide full assistance with completion of all necessary forms and declarations, which are required by the SRA before you can deliver regulated services. In particular, we will assist with preparation of a comprehensive Business Plan, which is a pre-requisite in the authorisation process, in order to obtain professional indemnity insurance and SRA authorisation.
We can advise you on obtaining compulsory minimum PII cover (including 'run-off cover' and any supplemental ‘top-up’ cover) from a participating insurer, including assisting you with presentation of your new practice in your proposal in the best possible light, to enable you to have the best opportunity of arranging PII at a reasonable premium.
We will advise you on how to demonstrate to the SRA that you have effective systems and controls in place to comply with your regulatory obligations in accordance with the SRA Handbook, including guidance on systems for client money, complaints handling, records and documents, the COLP/COFA duties on a sole practitioner, equality and diversity, marketing, outsourcing and statutory obligations, such as Data Protection and anti-money laundering.
We will discuss with you any plans you may have to develop or concrete relationships with any third parties and advise you on the links you are permitted to have with other, separate businesses.
If you need it, LBS Legal can help you with the compliance aspects of recruitment, appraisals and training. We can also provide staff training on a range of compliance and regulatory matters, such as anti-money laundering, to ensure you are as protected as possible against the risk of criminal sanction, reputational damage and regulatory breach in this high risk area.
Contact Ian Braithwaite on 0743 272 4046 or email him at email@example.com to discuss a fixed fee and for further advice on LBS Legal's Sole Practitioner Set-up service.
Ian Braithwaite Client Relationship Manager
T: 0845 056 3949
M: 0743 272 4046
LBS Legal for Compliance Support
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